The Arc of Bristol County launches pooled trust

A new pooled trust will help families of Bristol County elderly and disabled to provide for future needs.

A new pooled trust will help families of Bristol County elderly and disabled to provide for future needs.

The Arc of Bristol County, in collaboration with Bristol County Savings Bank's Financial Advisory Services (FAS) division, announced the trust in a press release Tuesday.

The Arc of Bristol County Pooled Trust is "a very useful estate planning tool to protect an individual's public benefits and still save significant amounts of money for their future use." By pooling funds, each individual account will yield more productive dividends for investment purposes, the release stated.

"The Pooled Trust is a great option for families of moderate income, who wish to provide for their family member's future needs," said Michael Andrade, president and CEO of The Arc of Bristol County in the release. "Families do not have to be associated with The Arc to participate in the Pooled Trust."

Families can rely on the trust and FAS to make disbursements according to instructions, be compliant with MassHealth regulations, to maintain records and provide guidance for responsible life financial planning, the release stated.

Established in 1959, The Arc of Bristol County serves over 2,000 adults and children with intellectual and developmental disabilities and their families in Bristol County.